# CBOT soyabeans extend slide - Markets - Business Recorder

> Chicago soybean futures fell to multi-month lows after USDA reported September 1 soybean stocks of 256 million bushels, above the full range of trade estimates. The November contract settled 9.5 cents lower at $12.46.5 per bushel, and soymeal and soyoil also declined. Harvest pressure in the Midwest added to the selling.

- Date: 2021-10-02 · published 2021-10-02T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/44605-cbot-soyabeans-extend-slide-markets-business-recorder
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A surprise increase in old-crop stocks signals ample supply, which weighs on soybean and soymeal prices. Harvest pressure is likely to keep prices under pressure in the near term.

## Read by commodity

- SBM: bearish ▼
- SBO: neutral
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-10-04 | [Chicago wheat down - Markets - Business Recorder](https://feedsoft.ai/events/7138-chicago-wheat-down-markets-business-recorder.md) | -0.1% | +1.1% |
| SOY | 2023-08-29 | [Soybeans fall after data shows US crop less damaged than feared - Markets - Business Recorder](https://feedsoft.ai/events/34582-soybeans-fall-after-data-shows-us-crop-less-damaged-than-feared-markets.md) | -3.3% | -6.6% |
| SOY | 2022-07-13 | [US MIDDAY: Grains: Losses deepen - Markets - Business Recorder](https://feedsoft.ai/events/4310-us-midday-grains-losses-deepen-markets-business-recorder.md) | -7.3% | +6.3% |
| SOY | 2022-04-03 | [Malaysian palm oil set for weekly loss as rival soyoil drops - Markets - Business Recorder](https://feedsoft.ai/events/5915-malaysian-palm-oil-set-for-weekly-loss-as-rival-soyoil-drops-markets-business.md) | +6.7% | +5.8% |
| SOY | 2023-07-13 | [Palm oil falls over 2% on higher global edible oils output forecast - Markets - Business Recorder](https://feedsoft.ai/events/35140-palm-oil-falls-over-2-on-higher-global-edible-oils-output-forecast-markets.md) | +0.2% | -3.8% |
| SBM | 2020-06-12 | [US soy crush seen at 173.071mn bushels - Markets - Business Recorder](https://feedsoft.ai/events/52699-us-soy-crush-seen-at-173-071mn-bushels-markets-business-recorder.md) | -0.3% | +0.4% |
| SBM | 2017-03-31 | [Column: Record soybeans to be planted \| Business \| journalgazette.net](https://feedsoft.ai/events/72035-column-record-soybeans-to-be-planted-business-journalgazette-net.md) | -2.0% | -1.0% |
| SBM | 2019-03-29 | [U.S. March Soybean Stocks Hit Record High, USDA Data Drops Markets](https://feedsoft.ai/events/60042-u-s-march-soybean-stocks-hit-record-high-usda-data-drops-markets.md) | +1.8% | -2.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40124102

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.